North East Small Finance Bank Appoints Interim CEO for Ongoing Merger with Slice

Veteran Banker Satish Kumar Kalra has been appointed as the interim Managing Director and CEO of North East Small Finance Bank, as announced in a statement on Monday. This appointment has received approval from both the Reserve Bank of India and the bank’s board. With over four decades of experience in the banking industry, Kalra has been associated with prominent entities such as PNB Gilts Ltd, Indbank Merchant Banking Services Ltd, JK Cement Ltd, and Can Fin Homes.

Kalra’s role will be pivotal in overseeing the ongoing merger of North East Small Finance Bank and Slice, with a particular emphasis on optimizing bank operations and ensuring a seamless cultural integration between the two entities. The merger, approved by the RBI, is part of the broader initiative to enhance financial inclusion.

Slice, a Bengaluru-based fintech startup, operates a non-banking financial company called Quadrillion Finance Pvt, focusing on providing credit to young Indians. The merger aims to leverage the strengths of both entities for mutual benefit. North East Small Finance Bank, headquartered in Guwahati, operates with 208 branches across North-Eastern states and West Bengal.